Property Lines - Scott Olson

Welcome to Property Lines, Indy's favorite source for neighborhood real estate news. Your host, IBJ real estate beat reporter Scott Olson, can be reached at solson@ibj.com.
Real Estate & Retail

Prime College Avenue parcel up for bid

April 30, 2015

A prime piece of real estate along College Avenue in the Meridian-Kessler neighborhood is on the market.

AT&T has hired the local office of Jones Lang LaSalle to coordinate the bidding process for the two-acre property that sits south of Kessler Boulevard.
AT&T building College Ave. 225px
The sale includes the phone company’s parking lot and office building. The larger, switching building to the north is not part of the package.

“AT&T determined this was an opportune time to initiate a sale of the 5858 N. College Ave. building and adjacent parking lot," an e-mailed statement from the company said. "No employment changes are expected as a result.”

The property is expected to generate strong interest from developers eyeing the parcel for a retail and residential project.

Scott Lindenberg, whose Reliant Partners Commercial Realty firm is constructing a two-story retail and office building just north of Kessler, is quite familiar with the AT&T land.

“It’s a good piece of real estate,” he said. “Not assembling it all—that presents some obstacles and gives you a little less flexibility. But overall, I like it.”

Within just a one-mile radius of the site, 40 percent of residents have a bachelor’s degree with an average household income of $96,321, according to a marketing brochure.

Offers are due by 5 p.m. May 18.

John Robinson and Denice Michel of Jones Lang LaSalle are listing the property.

Comments powered by Disqus